Economy: Venezuela, ALBA, Nicaragua - Past, Present & Future

In Nicaragua, ALBA became an everyday reality for millions of people. Though critics argue it’s impossible to account for the estimated $2.6 billion in ALBA aid that entered Sandinista coffers over the past six years, that money did allow the government to stabilize the country’s desperate energy sector by increasing power production and putting an end to daily blackouts. ALBA also provided electricity subsidies for low-consumption households, transportation subsidies for the working poor, and fellowships for university students. It funded road construction through dust-clouded barrios, provided roofing materials for leaky shanties, monthly cash handouts for thousands of government employees, and other assorted eleemosynary programs for the poor and not-so-poor.

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Political: Chavez's Win feeds Nations' Venezuela Addiction

what could shake things up far more than the elections in Venezuela is the little matter of the US’ Nov. 6 vote, with Republicans taking a seriously hawkish tone. “In the last three years, Venezuela has become a narco-terrorist state, turning it into an Iranian outpost in the Western hemisphere,” says the 2012 Republican Platform.

“The current regime issues Venezuelan passports or visas to thousands of Middle Eastern terrorists offering safe haven to Hezbollah trainers, operatives, recruiters and fundraisers,” the GOP claims. Were Romney to become president, the big question would be whether he would follow that campaign rhetoric with equally tough actions — or would he also continue the Obama administration’s policy of containing Chavez while keeping the oil flowing?

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Politics: Venezuela's Chavez Wins Presidential Race

Since taking power in 1999, the flamboyant former soldier has become a global flag-bearer of "anti-imperialism," gleefully baiting the United States government while befriending leaders from Iran to Belarus whom the West views with suspicion.

At home, casting himself as an heir to independence hero Simon Bolivar, Mr Chavez has poured billions of oil revenues into anti-poverty programs, and skilfully used his humble roots and folksy oratory to build a close connection with the masses.

While that connection ensured his re-election, the opposition's big share of the vote reflected a real and growing anger at Mr Chavez's failure to fix basic problems such as violent crime, potholed roads, electricity blackouts and entrenched corruption at all levels.

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